This week’s UK tech funding deals include AI engineering platform PhysicsX, tax software platform Record OS and more. UKTN tracked £266.48m worth of UK tech investment this week (08 June to 12 June), a 44% week-on-week decrease across six funding rounds. Here’s your weekly roundup of UK tech startup funding deals. PhysicsX – £225m Sector: ... Read more ›
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The CEO of vehicle tracking technology company Quartix has stepped down after two years in the role. Richard Lilwall has stepped down as chief executive of the London-listed firm and resigned his board position, the company announced on Tuesday evening, Quartix founder and former CEO Andy Walters will become executive chairman with immediate effect. Walters ... Read more ›
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A partnership to connect tech innovation and drive investment in Manchester and Cambridge has received mayoral backing. The partnership, which is between Innovate Cambridge and ID Manchester, will create physical hubs in each city and connect entrepreneurs, researchers and investors. It will focus on boosting growth in key sectors including AI, advanced materials, health, biotech ... Read more ›
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London-headquartered music tech company Audoo has secured a $5m (£4.1m) investment from superstar musician Elton John and filmmaker David Furnish. Audoo has developed devices that are installed in public locations and listen to what music tracks are played to provide royalty compensation to artists. Once it has identified songs, Audoo refers the data to “partnered ... Read more ›
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FourJaw, a Sheffield-based startup that monitors factory machinery to spot inefficiencies, has secured £1.8m in funding from a fund managed by Mercia. FourJaw has created hardware that it says can be installed in minutes and connected to any machine. Manufacturers can then monitor the performance of machines using FourJaw’s software platform, accessible on a tablet ... Read more ›
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Health tech firm Pharmacierge has announced plans to build a 5,500 sq ft dispensary at its London facility, with plans including a 30ft dispensing robot sending medication between floors via spiralling chutes. The multi-arm robot will pick out the required medication and load it into chutes that travel up to the top floor of the ... Read more ›
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Lending software startup Kennek has secured $12.5m (£10.2m) in seed funding to expand in Europe, where it recently acquired its first customer. Kennek says its lending software provides a single solution that includes loan writing, report generation, portfolio management and investor relations. “Lenders are really just at the start of the digitalisation journey. Kennek is ... Read more ›
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Season four of the UKTN Podcast continues with a dive into how artificial intelligence is shaking up the legal sector, with Robin AI co-founder Richard Robinson. In this episode, Robinson discusses the risks and opportunities for generative AI in the legal sector. The CEO explains why people will always be needed despite the rise of ... Read more ›
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The government has announced that Edinburgh is the “preferred choice” to home a new supercomputer that could turbocharge advances in AI, medicine and low-carbon energy. The exascale computer is anticipated to have 50 times more firepower than the country’s current highest-performing computer, the ARCHER2, which is also based in the city. It follows the plans ... Read more ›
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Autonomous driving software developer Oxa has received an investment from tech giant Google, new company filings have revealed. According to Companies House filings, Google has taken a 3.5% stake in Oxa, formerly Oxbotica, which spun out from the University of Oxford in 2014. The investment, which was previously undisclosed, was first reported by the Telegraph. ... Read more ›
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Elderly care marketplace Lottie has raised $21m (£17.2m) in a Series A funding round led by Accel. London-based Lottie will use the latest investment to grow its team from 50 to 100 next year and develop its software, which provides personalised searches for discovering care homes. Lottie’s Series A also saw prior backer General Catalyst ... Read more ›
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Low-cost computing company Raspberry Pi is considering a UK initial public offering (IPO) in a boost to London markets. Speaking at a Cambridge event, Raspberry Pi CEO Eben Upton said the business, which originally planned to IPO in 2021 but postponed due to unfavourable market conditions, was now “ready”. “Obviously there are market effects that ... Read more ›
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The University of Cambridge has appointed the former CEO of Tech Nation to lead a new programme supporting tech founders hailing from the university. Gerard Grech will head up the initiative, called Founders at The University of Cambridge, which will connect academics, entrepreneurs, alumni and peer role models. It will have a focus on deep ... Read more ›
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Space technology company SatVu has revealed the first images and videos captured from its thermal imaging satellite as it commences commercial operations. Images were taken from around the world at sites including a harbour in Darwin Australia (pictured), Las Vegas and wildfires in Canada. The firm uses infrared to gather data on building emissions. It ... Read more ›
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Ministers in the UK have called for a pause in the use of live facial recognition surveillance, recently announced by the policing minister. The cross-party coalition of 65 policymakers today issued a statement that said: “We call on UK police and private companies to immediately stop using live facial recognition for public surveillance.” The call ... Read more ›
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US company PsiQuantum has opened its first international research and development site at Daresbury Laboratory in Cheshire. PsiQuantum, headquartered in Palo Alto, California, is aiming to build the first “large-scale” quantum computer. The Silicon Valley company will work with the lab, located in the Sci-Tech Daresbury campus, to create fault-tolerant applications for utility-scale quantum computing. ... Read more ›
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Losses at British chip designer Graphcore widened last year, with the Bristol-based firm posting a pre-tax loss of $204.6m. Losses for the year ended December 2022 were 11% higher than the year before, the company’s latest financial accounts show. Revenue at the company, which designs hardware and software for intelligent processing unit (IPU) systems, was ... Read more ›
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Nick Telson is the co-founder of Trumpet, a London-based B2B digital sales platform. Sales teams can use the Trumpet platform to create customised microsites for prospects, without requiring coding knowledge. These virtual ‘pods’ include tools for sales demos and document signing. Founded in 2021, the company has secured a total of $3.1m in funding, with ... Read more ›
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Startup consultancy firm Plexal has launched a £1.47m scaleup programme for London-based climate tech businesses in partnership with Shift. The Future Industries Demonstrator Programme, partly funded by the government-backed UK Shared Prosperity Fund, aims to support 215 London startups that are developing technologies to tackle the climate crisis. The programme will grant £25,000 to successful ... Read more ›
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FlexSea has bagged £3m in a combination of equity and grant funding to replace plastic packaging with a seaweed-based alternative. The London-based startup has developed a range of biopolymer materials from seaweed and other natural ingredients Thibaut Monfort, co-founder and CTO of FlexSea, said: “We are heavily investing in equipment and machinery for in-house R&D, ... Read more ›
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State-owned investment group British Business Bank has launched a £150m investment fund targeting Scottish SMEs. The fund from the investment bank will grant debt funding between £25,000 and £2m as well as equity investments of up to £5m to Scottish SMEs. British Business Bank said the project is the first solely government-backed SME investment fund ... Read more ›
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18.06.2026 03:12
Last update: 03:05 EDT.
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